Shares of Japanese Drugmaker Daiichi Sankyo Tumble on Delay in Earnings
By Jason Chau
Shares of Daiichi Sankyo tumbled after the Japanese drugmaker delayed the release of its earnings results.
Daiichi Sankyo's stock declined nearly 11% to 2,497.50 yen, equivalent to $15.64, in Friday morning's trading session in Tokyo, marking its steepest intraday decline since August 2024.
The pharmaceutical company said it will report the results for the fiscal year ended March 2026 on May 11, instead of the originally scheduled April 27.
It attributed the delay to a review of its supply plans for its oncology portfolio and development pipeline, and further deliberations to estimate the loss provisions related to contract manufacturing.
Daiichi Sankyo said it would also release its five-year business plan for 2026-2030 on May 11, brought forward from May 19.
The delay in the earnings release comes amid rapid changes in the drugmaker's business environment as it pivots toward innovative drug discovery, particularly in the field of oncology. Earlier this month, it agreed to sell its over-the-counter drug business to Japanese beverage giant Suntory Holdings for about $1.55 billion.
Daiichi Sankyo shares are down nearly 26% so far this year.
Write to Jason Chau at jason.chau@wsj.com
(END) Dow Jones Newswires
April 24, 2026 01:03 ET (05:03 GMT)
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